B3K Prosperity

B3K Prosperity is a regional collaborative in Bakersfield and Kern County, California, that works to create more quality jobs and grow industries such as aerospace.

The name stands for A Better Bakersfield and Boundless Kern. The group formed in early 2020 as a partnership among business, government and civic stakeholders. In 2020 it ordered a market assessment of the region. The study found that more than half of families struggle to make ends meet. More than a third of local residents belong to working families that do not earn enough to support themselves.

The group's mission is to bring the region together to build the next era of success, where all people prosper and businesses thrive. Its vision is for the region to be the best place in California to reach the American dream. In 2021 it set a goal to cut in half the number of local children in struggling families by 2031. To reach that goal, it works to grow or upgrade jobs and to open paths for people to reach them.

B3K focuses on equity and inclusion through what it calls Deep Prosperity. A Deep Prosperity Council helps make sure its plans reflect the needs of disadvantaged communities and people of color. It also has a Regional Council and a Community Advisory Council.

The group has named opportunity industries where the region can compete for investment. These are advanced manufacturing, aerospace, business services, energy and carbon management, and entrepreneurship. Each has an implementation team that drives action and investment.

Aerospace is one of the main areas. B3K worked with the Griffiss Institute and Starburst on the Mojave Aerospace Accelerator Fund. The fund invested $400,000 in defense and aerospace startups. B3K also received $2 million to launch an innovation hub in East Kern. The group holds an annual event called Unbound, a capital summit for investors, civic leaders and founders.

Services

• Regional economic development
• Aerospace industry support
• Mojave Aerospace Accelerator Fund
• Advanced manufacturing support
• Business services development
• Energy and carbon management
• Entrepreneurship support
• Unbound capital summit